There is no universally accepted definition to describe the 9,000 privately pooled investment entities in the United States called ________ that invest more than $1.3 trillion in assets.

Question

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The description fits that of hedge funds, which are privately pooled investment entities that manage large sums of assets, often investing in unconventional ways to generate high returns. Both A) derivative funds and B) option funds tend to focus on specific financial instruments, while D) asset/liability funds are a type of investment vehicle used by pension funds and insurance companies to manage their own assets and liabilities.

There Is No Universally Accepted Definition to Describe the 9,000